US dimension lumber originally WAS the full nominal dimensions. This changed somewhere in the 1920s or 1930s, when sawmills became more automated and standardized. My house was built around 1905, and all the original wall studs are a full 2" x 4", whereas a modern "2 x 4" is ~ 1.5" x 3.5 ". Sometimes calls for some creativity (and strips of plywood as shims) when interfacing between old and new construction.
Quite often, I do some machining of metal and plastic parts for various projects. The manual dials on the milling machine and lathe are all calibrated in thousandths of an inch. If I have to work in metric, the digital readout that has been added to the machines can be set to read in decimal inches or mm. But the machines themselves were designed for the US standards, and most of the collets, tooling, and stock we work with is also manufactured in imperial sizes.
This was probably the real reason for the reluctance to convert completely to metric here in the US. Perfectly serviceable capital equipment would need to be scrapped, entire supply chains retooled, etc. A huge expense, and a waste of perfectly usable resources, with no immediately apparent payoff. Given the tendency of businesses and politicians to not think past the next quarterly report or election cycle, the result isn't exactly a surprise.